Numerous factors can contribute to a Virginia divorce, including financial issues. While many couples have felt the burden of financial setbacks because of the poor economy, there may be unexpected positive effects of the recession on marriage. The recession is causing a decline in divorce rates, and many couples are learning to lean on each...
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Prenuptial agreements can cover a wide variety of things depending on the unique needs of the couple involved. The primary purpose of creating a prenuptial agreement is to protect the assets of the partners involved, so financial matters are almost always the main focus of these documents. However, some couples choose to add in things...
The Thrift Savings Plan, or TSP, is the military’s version of a 401 (k) program, which Congress extended to military members in 2001. If you’re going through a military divorce in Virginia, you might be eligible to receive a portion of your husband’s TSP balance. The TSP is a retirement savings and investment plan that...
If your ex-husband qualifies for nondisability retirement pay, you’ll likely be eligible to receive a portion of it following your military divorce in Virginia. The military uses various methods to determine the amount of retirement pay that members receive, which impacts the benefits that you’re awarded in your settlement or court order after your military...
If you’re still a beneficiary under your former husband’s Survivor Benefit Plan (SBP), you’ll need to understand how your benefits may change in the event that you remarry. Some of the legalities involving a military divorce can be quite confusing, so it’s best to ask an experienced Virginia divorce attorney to explain anything that is...
The Survivor Benefit Plan (SBP), a form of insurance for retired military members’ designated beneficiaries, can be a part of your settlement during your military divorce in Virginia. Although divorce usually ends your SBP eligibility, you can still maintain SBP coverage if the courts award you that privilege during the division of military retirement benefits....
In most cases, the U.S. Navy and Marine Corps require members to pay spousal support after a Virginia divorce, regardless of whether a court order or legal agreement exists. The military uses the naval support scale as a guide to figure the amount of support an ex-spouse should receive. The percentage of the member’s pay...
The U.S. Navy and Marine Corps put regulations and policies into action that make sure dependents of military members are given support in the event of military divorce. While the military prefers the establishment of court ordered child support, it does provide payment guidelines for military members to follow when there is no legal support...